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Leading digital printing solutions provider for the global textile industry, Kornit Digital has posted an increase of 24 per cent in its revenues of US $ 21.8 million for the first quarter of 2016 against US $ 17.6 million in the same period last year.
The company informed that its non-GAAP net income totalled US $ 0.6 million in the reporting quarter versus US $ 0.9 million in the corresponding period of 2015. On a GAAP basis, Kornit Digital noted a net loss of US $ 0.2 million in the reporting quarter.
Commenting on the results, Gabi Seligsohn, CEO of Kornit Digital averred, “In the first quarter of 2016 we continued to show strong revenue growth of 24% year over year, which, despite being our seasonally weakest quarter, showed continued momentum across our product categories. We believe we are firmly positioned for future growth, and expect a particularly strong second half driven by new system offerings and supported by large accounts with multi-system delivery plans.”
On offering new and innovative products to its customers, Seligsohn opined that the company will be adding a number of new products focused on three key attributes – cost per print, print quality and throughput.
Kornit Digital, an international manufacturing company, based in Israel, has reported that sales for the fourth quarter of FY15 totalled at US $ 25.5 million, up 35.1 per cent from US $ 18.9 million in the corresponding period last year. As per the press release from the company, higher sales were attributable to extensive growth in all areas, including systems and services as well as inks and consumables.
At Kornit Digital, Non-GAAP gross profit in the three months to December 31, 2015 was US $ 12.4 million against US $ 8.6 million. On a GAAP basis, gross profit for the reporting period reached US $ 12.1 million compared with US $ 8.5 million in the same period last year. In the period under review, Non-GAAP operating expenses zoomed to US $ 9.1 million, or 35.5 per cent of sales, as against US $ 6.9 million, or 36.4 per cent of sales last year. On a GAAP basis, total operating expenses were US $ 9.9 million against US $ 7.2 million in the comparable period last year.
Non-GAAP operating profit in the reporting period surged to US $ 3.3 million compared with US $ 1.7 million. And, Non-GAAP net earnings in the same period were US $ 3.2 million as against US $ 1.6 million in the same quarter of 2014.
The textile printer firm said in a release, “Higher gross margins primarily reflected a favourable sales mix of high throughput systems, and a stronger contribution from ink and consumables during the current period. The increase in total operating expenses was consistent with the previously stated growth strategy, as the company continues to execute to its global infrastructure build out.”
Kornit Digital, the Israel-based digital textile printing company, will participate at FESPA China to be held in Shanghai from October 21-23. The event marks the company’s fourth presence at a major Chinese industry event this year. At Kornit Digital’s booth, visitors can witness live demonstrations of the company’s Avalanche Hexa and Storm II systems, supported by a host of real-life application samples.
The Avalanche Hexa is a member of Kornit’s leading industrial product range for digital direct-to-garment printing. It features a six-colour-plus-white configuration for an extended colour gamut and superior spot colour handling. Ideal for cut piece printing and specialty garment production, it will be shown with Kornit’s new Very Large Pallet that expands the maximum print size of the system to 135 cm x 97 cm. The Kornit Storm II has two printing tables so shirts can be mounted while another one prints and can print up to 150 garments/hour. All samples and demonstrations on Kornit’s booth will feature the company’s next-generation NeoPigmentTM Pure ink.
Kornit has also revealed more details of its upcoming new local office in Shanghai to ensure that Kornit’s users are well supported to take advantage of the many opportunities that the market offers. The new office includes a state-of-the-art demo centre showcasing selected products from the Kornit range.
Known for its popular invisible socks, Steps Footsocks has developed a new range of socks using the Nilit Duelle duo-coloured fibre developed by Israel based company, Nilit, which produces polyamide 6.6. The new fibre offers a unique heather effect in two distinct colours and shades due to the combination of Nilit Pastelle and Nilit Colorwise yarns spun together. The fabric containing Nilit Duelle can be dyed in two different colours in a one-step dyeing process. The fibre is ideal for denims, stripes, fashionable patters, jacquards, and soft to bright hues.
Steps Footsocks, famous for its invisible socks was established in 1980 and has production facilities in Poland and Cambodia.
Kornit Digital has introduced a new series of digital inks designed for use with all of its direct-to-garment systems. The new NeoPigment Pure formulation is designed as an organic evolution of the company’s existing NeoPigment process and brings users a host of benefits including increased vivacity, an improved hand feel and a more opaque and smooth reproduction of white. The new ink also offers better wash-fastness, a longer shelf life and the likelihood of waste is vastly reduced. Once commercially available, the new inks will be able to be used with all of Kornit’s direct-to-garment printing systems in the field, without any hardware changes.
This ink comprises CMYK plus red, green and white and is formulated to supersede the company’s existing ink families by providing colour standards that are closer to ideal LAB values. Improved overall smoothness resulting in an increased gamut of more than 15 per cent is accompanied by a deeper black (K), while the white ink has greater brightness and opacity with greater coverage.
It has been designed to increase the performance of the Kornit Digital direct-to-garment systems’ printheads with faster start-up and better reliability. Guy Zimmerman, Kornit’s Executive Vice President of Marketing and Business Development said, “Kornit Digital’s policy is never to stand still but to continue with developments across all of its technologies in order to bring customers and new users the best pigmented ink technologies to combine with their Kornit direct-to-garment printers.”
At Roberto Cavalli, one of Optitex’s premier users, a solution known as Printed Fabric – capable of optimizing the design process for printed fabric garments – was implemented recently
Optitex, a leading provider of integrated 2D/3D CAD digital products solutions for the textile industry, is geared up to display its latest digital inspiration at the 2015 edition of the Texprocess show in Frankfurt. A respected name in digital solutions, US based Optitex has been a pioneer in 2D/3D CAD solutions for more than two decades and at the four-day event, the company will unveil its latest version O/15, with the most recent innovations in 3D digital simulation and sample development workflow.
A market leader in its category, Optitex has more than 27,000 installations worldwide including leading car interior manufacturers such as Audi, BMW, Porsche, Toyota, Johnson Controls, Prevent and others. In the fashion and apparel‚ clients include Patagonia, Cherokee Uniforms, Coach Leather, Oxford Industries – Li & Fung, Kohl’s, Chico’s, Perry Ellis, Tommy Hilfiger, The Marena Group among a long list of satisfied 2D and 3D customers.
“In this industry, it’s all about speed. Collections with shorter cycles are growing at double the rate of the traditional longer-cycle collections. What Optitex does is allow businesses to develop closer to season, which enables them to be more aligned with consumer trends. It also means they can have more seasons and smaller production runs, mitigating the risk of over-production and the consequent markdowns.” – Asaf Landau, CEO, Optitex
With version O/15 of its integrated 2D/3D platform scheduled for release on day one of Texprocess, which has fast emerged as a top international trade fair for the processing of textile and other flexible materials, attendees will be among the first to experience Optitex’ new cutting edge digital solution for textile development, production, and marketing. The specially designed Optitex Innovation Corner at the Texprocess will give visitors a preview of upcoming apps and software solutions. “Those who truly want to stay on top of digital trends for textile development, production and marketing are invited to visit us at Hall 4.0, stand B-43,” says Asaf Landau, CEO, Optitex.
In fact, Texprocess visitors coming to Frankfurt looking for innovation will find it enough at the Optitex booth, where live demos of Optitex’s latest software will showcase advances in 3D digital creation and development of garments, bags and other textile-based products, with more life-like simulations, and speedier, easier workflow. Short movies running throughout the show will provide insight into how leading brands are leveraging Optitex solutions. “We look forward to meeting both existing and potential customers and partners at Texprocess, and showing them how we can empower textile businesses with digital inspiration from development all the way to marketing,” adds Asaf Landau.
Empowering fashion businesses with digital inspiration
The fashion industry is undergoing a fundamental shift. More products, with a greater variety of designs, are being created and shipped more frequently, all at ever-decreasing price points. This places pressure across all links in the fashion value chain. Always keeping abreast with latest requirements in fashion, Optitex has supported speed to market with its updated versions.
Optitex allows the designer to see what the design will look like and how it will move on fully adjustable, life-like models before the first piece of fabric is cut
Optitex allows the designer to see what the design will look like and how it will move on fully adjustable, life-like models before the first piece of fabric is cut
Optitex allows the designer to see what the design will look like and how it will move on fully adjustable, life-like models before the first piece of fabric is cut
For Indian manufacturers, as volume business shifts out of the country and they are expected to deliver more complicated styles in small order quantities and in much shorter durations, turning to technology and automation is the only solution for survival. 2D/3D CAD is a tool which has the potential to drastically reduce time to market, apart from improving quality. Optitex’s 2D/3D solutions for digital samples offer the ability to convert these challenges into opportunity. With its innovative solutions, Optitex is changing the way the fashion industry designs, develops, produces and sells – resulting in valuable time and cost savings.
“In this industry, it’s all about speed. Collections with shorter cycles are growing at double the rate of the traditional longer-cycle collections. What Optitex does is allow businesses to develop closer to season, which enables them to be more aligned with consumer trends. It also means they can have more seasons and smaller production runs, mitigating the risk of over-production and the consequent markdowns,” avers Asaf Landau.
Digital transformation within a familiar workflow
Putting the fashion business on the fast track is done via an integrated 2D/3D platform with a powerful simulation engine. This gives designers the ability to create beautiful 3D digital clothes from 2D patterns, with real-to-life fabric simulation. In terms of workflow, the Optitex platform allows fashion brands to use the same processes they have been using until now for sketching designs and making patterns. But, rather than making physical samples, they are able to make digital samples first. This means, they can correct and adjust designs even before the first piece of fabric is cut.
Thus, instead of sending real sewn samples back and forth between the suppliers, fashion designers, tech designers, patternmakers, and other stakeholders, the brand can now create, view, and edit the initial samples via the software, preventing over-development, over-production, and markdowns. According to Landau “It is the impact on the top line that is really interesting – being able to show designers, buyers and even customers the collection within a couple of weeks of design sketches instead of several months later. This way they can clarify which styles in the collection will be the hit, double down on them, and even develop more similar styles.”
Optitex platform allows fashion brands to use the same processes they have been using until now for sketching designs and making patterns. But, rather than making physical samples, they are able to make digital samples first. This means, they can correct and adjust designs even before the first piece of fabric is cut.
The digital clothing created by Optitex’s user-friendly 2D CAD and 3D simulation solutions can be leveraged in numerous manners across any fashion brand. This includes: shortening product development cycles by up to 40 per cent; enabling brands to review an entire collection, in all colorways, within 2-4 weeks of design sketches (instead of 3-6 months); and facilitating buyer feedback on collections within days of design, to help prevent over-development of items that will not make it into the line.
Landau shares that one US customer reported that using the Optitex solution enabled them to reduce the number of rounds needed to create the first prototype, saving a significant amount of time and money. Thanks to this quick process, the company was able to visualize complete garments in just three days, instead of waiting 6-8 weeks for a fabric swatch, and six months to see the garment in all colorways. Fit issues were also identified earlier, delivering additional savings. Further savings are expected by the Marketing and Sales Department, which plans on using digital samples in lieu of photoshoots for the company’s website and marketing materials.
Coming up: Cloud-based platform for fashion development & marketing
Very soon, Optitex innovation is expected to reach market with the O/Cloud platform. This cloud-based solution focuses on the industry’s most important business processes, such as visual collaboration between the brand’s stakeholders and manufacturers, where both parties can look at the same 3D images. The O/Cloud platform will enable brands to leverage the existing 3D digital products across various applications such as: Digital collection planning, Digital product development, Digital showrooms, and more. “All of this will continue to help brands and clothing manufacturers reduce over-development, optimize product development, enhance shoppers’ experience, engage with customers through all sales channels, and ultimately increase profitability,” concludes Landau.
Founded in 2002 Kornit Digital Ltd. has become a member of the Nasdaq stock exchange after concluding a successful IPO with 7.1 Million shares raising over US $ 122 million. The newly minted stock closed at US $ 14 or 40% over its opening price. It is known for development and manufactures digital printing solutions for the textile and garment industries, from direct-to-garment print systems to roll-to-roll digital presses for fabrics. In their financial brief, the company cited US $ 66 million in 2014 revenues, representing 34% growth over 2013. In the same brief Kornit noted that the installed base for all the company’s products is now nearly 1,300 units worldwide.
Roberto Cavalli, an Italian luxury brand has overcome the challenge of integrating intricacies of handmade designs with the complex needs of manufacturing and marketing, with the deployment of 2D and 3D CAD software solution. To get a 3D idea of the print on the style, the Product Development team at Roberto Cavalli would make use of paper patterns and close the pleats, folds and frills, informs Paolo Ottolia, head of ready-to-wear products at Roberto Cavalli about the lengthy process. Roberto Cavalli releases six collections annually following a production schedule that allows an average of two months for the design and development of each new collection. The installation of Optitex has helped the brand reduce the sampling time.
Kornit Digital, digital textile printing solutions provider, has launched a new-generation discharge ink for the Kornit Avalanche DC Pro direct-to-garment printing system.The solution creates unique digitally printed garments which have a natural feel when touched, allowing garment decorators to expand into new markets and attain higher revenues and margins. The new discharge ink is an improved, ready to use version that does not require special handling or mixing, and remains stable in the print-heads for up to a year. The Kornit Avalanche DC Pro has two additional print-heads by which the new discharge ink is applied to bleach the dye molecules of the dark garment, providing a base for CMYK colour model printing. In combination with the discharge ink, the system can apply flexible amounts of white ink for full opacity control.
Kornit Digital will be collaborating with Gideon Oberson an Israeli fashion designer known for luxury swimwear at Heimtextil 2015, Germany. The partnership will bring to life Oberson’s collection inspired by Costa Rica’s incredible variety of strong colour, sound and fragrance. “My ideas really came to life thanks to the amazing colour gamut and versatility of the Kornit Allegro,” says Oberson lauding Allegro’s prowess. The Kornit Allegro’s unique one-step process combined with the wider colour gamut of Kornit’s NeoPigment inks represent enables users to control their prints and colours while offering its customers short runs and customisation. Further, Kornit’s Allegro now facilitates textile printing in a completely dry single step solution, digital fabric printing is returning to western countries as all former issues, such as end-to-end costs, pollution, regulations, health and safety, and space can be addressed.
Ministry of National Economy has said that garment factories in illegal Israeli settlements have been re-labelling the products with international brand names to market them in the Palestinian market. The Consumer Protection Directorate team closely monitored a vehicle loaded with Israeli garments exiting the illegal settlement of Burkan and heading to Salfit market. Director of the Consumer Protection Directorate in Salfit, Raed Naser stated that his directorate crews have detected dealings between Burkan garment factories and some Palestinian tailoring workshops. In April 2010, President Mahmoud Abbas signed a law banning trading and promoting settlement products in Palestinian markets. The law stipulates that “any trading, promoting, marketing, storing, transporting or packaging of settlement products into the Palestinian market, providing any service or offering any benefit for settlements along with their products is prohibited.”
World’s leading maternity apparel retailer, Destination Maternity announced its expansion in Israel through a multi-year franchise agreement with the country’s largest fashion retail chain, H&O Fashion Ltd. The first franchise locations are anticipated to open in spring of 2015 with merchandise selling through both shop-in-shops at H&O stores and exclusive brand outlets of Destination Maternity. The company will introduce its Motherhood Maternity®, A Pea in the Pod®, and Destination Maternity® brands through this relationship. “Destination Maternity is an important addition to our portfolio of 45 stores,” says Ami Sagis, Chairman of H&O.
Leading digital printing solutions provider for the global textile industry, Kornit Digital has posted an increase of 24 per cent in its revenues of US $ 21.8 million for the first quarter of 2016 against US $ 17.6 million in the same period last year.
